Final answer:
Harry can respond to IIROC in writing to address the concerns raised and provide any additional information. If his registration as an Investment Advisor is refused, he can request a hearing to contest the decision, adhering to the specific procedural guidelines and timelines set by IIROC.
Step-by-step explanation:
If Harry has been notified by IIROC that his registration as an Investment Advisor (IA) may be refused, he has the right to take certain actions. First, Harry should obtain a full understanding of the reasons behind the potential refusal. IIROC must provide an explanation detailing the grounds on which the registration is being considered for refusal. After understanding the specifics, Harry may wish to consult with a legal professional experienced in securities regulation to get advice on how to proceed.
One of his options includes responding to the issues raised by IIROC in writing. This is his opportunity to address any concerns or to provide additional information that might mitigate the issues IIROC has identified. If after this communication Harry's registration is still refused, he typically has the right to request a hearing before a panel to contest the registration decision. The process for this hearing and the associated legal procedures would be outlined by IIROC's guidelines and applicable securities legislation.
It is important for Harry to act promptly, as there are usually strict timelines by which he must respond or take certain steps. Being proactive and informed throughout the process is essential for Harry to challenge the refusal of his IA registration effectively.